The president promised the pardon for filmmaker Dinesh D'Souza, saying he "was treated very unfairly by our government."
D'Souza pleaded guilty to making an illegal campaign contribution to the unsuccessful U.S. Senate campaign of Wendy Long, a Republican and longtime D'Souza friend.
A 2014 documentary by D'Souza, America: Imagine a World without Her, suggested he was a victim of political harassment and targeted by the Obama administration.
D'Souza was spared a prison term for violating campaign finance laws and instead received five years of probation, including eight months in community confinement. He was also ordered to pay a $30,000 fine and to perform community service.
During a flight to Texas on Thursday, Trump said he's also strongly considering commuting Blagojevich's prison sentence and a possible pardon for Martha Stewart.
Blagojevich, in the seventh year of a 14-year sentence, was convicted on 18 counts of corruption -- including attempting to sell the U.S. Senate seat vacated by Barack Obama when he ran for president. He was recorded on federal wiretaps trying to arrange a six-figure job in return for the Senate appointment.
Stewart, who built a media empire on the concept of gracious living, was sentenced in 2004 to five months in prison, five months of home confinement, two years of supervised probation and ordered to pay a $30,000 fine for lying about a 2001 stock sale.